The Earthquake’s Impact on Remittances
The earthquake in Haiti has exacerbated an existing distress during the international recession and increased uncertainty of what to do and how to help.
This memo provides input on a current problem affecting family remittances: the bank account closures of money transfer companies. The memo analyzes the trends and presents some of the consequences and implications as identified in the research. It concludes by discussing solutions and recommendations suggested by industry experts.
The memo draws from multiple sources, including previous research, interviews with remittance experts and members of the Remittance Industry Observatory, and media and data analysis in order to offer a fresh look at a persistent issue in the industry.
The earthquake in Haiti has exacerbated an existing distress during the international recession and increased uncertainty of what to do and how to help.
How do patterns of migration and remittances differ across regions? What kinds of frameworks support the contributions of remittances to local development?
On February 24th, the Inter-American Dialogue held its annual event on Remittances to Latin America and the Caribbean.